The TP&E rail equipment rental activity operates from several locations in southeast England. It will be integrated into Vp’s Torrent Trackside business.
The acquisition includes a five-year framework agreement for the hire of trackside plant and equipment to Balfour Beatty Rail across the UK.
Vp chairman Jeremy Pilkington said: "This transaction further strengths our business relationship with the Balfour Beatty Group and at the same time positions Torrent Trackside as the leading supplier of specialist portable rail equipment and associated services to the UK rail sector."
Balfour Beatty’s fleet of road rail machines are not included in the deal.